XLMedia PLC AGM Statement (9599Z)
May 27 2021 - 2:00AM
UK Regulatory
TIDMXLM
RNS Number : 9599Z
XLMedia PLC
27 May 2021
27 May 2021
XLMedia PLC
("XLMedia" or the "Company")
AGM Statement
XLMedia (AIM: XLM), a global digital performance publisher,
provides an update ahead of its Annual General Meeting ("AGM") at
10.00am today. As noted in the Company's Notice of AGM
announcement, shareholders must not attend the meeting in
person.
At the meeting, Stuart Simms, Chief Executive Officer of
XLMedia, will make the following statement:
"We have made a solid start to 2021, supported by a good
performance in the Personal Finance and European Sport verticals.
This, alongside our recent acquisitions in US Sports vertical,
continues to partially offset the ongoing weakness across our
European Casino assets.
"The integration of our US Sports assets is progressing well and
is expected to add materially to the Group revenue for the current
financial year and beyond. However, and as previously disclosed, we
expect revenues in the Casino vertical to decline further in 2021
and will continue to adjust our cost base accordingly as we further
stabilise this vertical in the medium term. We expect this decline
to be partially offset by the improving performance of both
European Sport and North American Personal Finance.
"Given the robust performance and the increased revenue
visibility of the business so far this year, the Group currently
expects to deliver revenue for full year 2021 of between $65
million and $70 million.
"As outlined in our 2020 full year results published in April,
we continue to invest in the ongoing transformation of the
business, including the systems and technology that underpin
performance, to build an infrastructure platform which will support
the anticipated growth in future years. This investment, and the
additional operating costs associated with the recent acquisitions,
will hold back profit progression in the current year.
"In the medium term, the Company expects to deliver year-on-year
profitable revenue growth and to leverage the infrastructure
investment to reduce ongoing operating costs, leading to a gradual
return to the operating margin levels last experienced in
2019."
The information contained within this announcement (the
"Announcement") is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulation (EU)
No. 596/2014. Upon the publication of this Announcement via a
Regulatory Information Service, this inside information is now
considered to be in the public domain.
For further information, please contact:
XLMedia plc ir@xlmedia.com
Stuart Simms, Chief Executive Officer
Iain Balchin, Chief Financial Officer
www.xlmedia.com
Vigo Consulting Tel: 020 7390 0233
Jeremy Garcia / Fiona Hetherington
www.vigoconsulting.com
Cenkos Securities plc (Nomad and Joint Tel: 020 7397 8900
Broker)
Giles Balleny / Max Gould
www.cenkos.com
Berenberg (Joint Broker) Tel: 020 3207 7800
Mark Whitmore / James White / Tejas Padalkar
www.berenberg.com
N otes :
XLMedia is a global performance publisher. Operating globally
across a variety of verticals including online gaming, personal
finance and sports, the Group uses proprietary data and advanced
targeting capabilities to build valuable connections with consumers
through high-quality content - a value which can be passed onto
XLMedia customers.
Group strategy is rooted in two fundamental corporate objectives
to evolve the XLMedia business, speed transformational progress and
drive global growth:
-- A balanced portfolio of online assets
o Proactively managing the portfolio to ensure exposure to a
diverse range of attractive territories and vertical markets, with
different stages in their lifecycle/maturity. XLMedia seeks to
achieve this through realigning the weighting of assets and moving
towards more regulated markets (the US) and verticals (Sports),
with more data-driven, conscious business model selection. In doing
so, the Group seeks to promote sustainable revenue growth for the
business and its customers, alongside data-driven intelligence to
inform investment cases.
-- Branded, content-rich, engaging websites
o Cultivating premium publishing brands with a shared belief in
quality. XLMedia seeks to achieve this through focused
consolidation of its portfolio and resources to concentrate only on
those publishing assets which are optimised for its chosen markets.
In doing so, the Group seeks to deliver content-rich, consumer
centric sites which promote tangible user value while benefiting
and extending the capabilities of our customers.
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END
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